2008 Financial Crisis quiz

More questions about 2008 Financial Crisis

These visible examples show the question style. LearnClash turns the full topic into ranked duels and spaced repetition.

1. 1 Easy

   What were US home loans to people with poor credit called?

   Answer: Subprime mortgages

   Why: The most common kind had a fixed rate for two or three years, then reset higher, adding over $600 a month on a typical $200,000 loan.

2. 2 Medium

   Which bank agreed in September 2008 to buy Merrill Lynch?

   Answer: Bank of America

   Why: Bank of America had also agreed in January 2008 to buy the troubled mortgage lender Countrywide for about $4 billion.

3. 3 Hard

   How much did JPMorgan first offer per Bear Stearns share?

   Answer: $2

   Why: Anger from Bear's shareholders and staff pushed JPMorgan to raise the price to $10 a share about a week later.

4. 4 Easy

   Who chaired the US Federal Reserve when Lehman Brothers failed?

   Answer: Ben Bernanke

   Why: Alan Greenspan had already handed the job to Bernanke in February 2006, more than two years before Lehman fell.

5. 5 Medium

   Which French bank froze three funds tied to US subprime loans in 2007?

   Answer: BNP Paribas

   Why: That same day, the European Central Bank pumped about 95 billion euros into money markets.

6. 6 Hard

   Whose bank did the UK freeze with an anti-terror law in 2008?

   Answer: Iceland

   Why: Landsbanki's online savings brand, Icesave, held money for more than 300,000 savers in Britain.